The headquarters of the Central Commission for Discipline Inspection of the Communist Party of China is pictured in Beijing. (Reuters)China's ruling Communist Party has expelled the former chairman of the state-owned Bank of China from the party, accusing him of illegal activities and taking bribes, the top anti-graft watchdog said on Saturday. Liu Liange was accused of illegally granting loans and causing significant financial risks, the Central Commission for Discipline Inspection (CCDI) said in a statement on its website. Liu, born in 1961, had been working in banking and finance institutions, including in the central People's Bank of China and the Export-Import Bank of China, before he was promoted to become chairman of the Bank of China in 2019. Two weeks later, state media reported that the CCDI had opened an investigation into him on suspicion of serious violations of party discipline and laws.

Source: The Standard October 07, 2023 15:22 UTC